Personal Finance Roundup

9 big credit card myths [MSN Money] “What you don’t know could hurt you.”

Patience Pays Off [Kiplinger] “Whatever your style of investing, the lesson of the millenium is clear: It pays to keep investing through market slumps.”

A Real-Life Example of How to Save $1,300 in Less than Two Hours by Shopping Around for Car Insurance [Free Money Finance] “I just recently got married so changing insurance was on the endless list of things to do, so I explored my intuitive feeling, of being screwed, and here is what happened.”

18 ways to beat inflation [CNN Money] “Cut out some waste and take advantage of a few overlooked deals, and you can rein in your budget without feeling like a penny-pincher.”

How We Organize Our Coupons and Execute Our Coupon Strategy [The Simple Dollar] “Here’s how we maximize our coupon value, from top to bottom.”

(Photo: Artnchicken)


Edit Your Comment

  1. PinkBox says:

    I bet Safeco (the insurance co. listed in the article) gets a ton of new business today.

  2. cortana says:

    I guess the MSN money credit card myths article could be the end of the continuous ‘YOU DON’T HAVE TO SHOW ID TO USE A CREDIT CARD’ arguments on consumerist..

    naah. won’t happen.

  3. cortana says:


    I have to put in the recommendation for AMICA mutual for auto insurance. They’re nearly as good as USAA.

  4. Alexander says:

    I have a question about debt that maybe someone can shed some light on. My wife and I have two outstanding debts: $2000 in a line of credit with the bank and a tax bill for $9,000 with the IRS. I was a freelancer for half of last year and foolishly didn’t make estimated payments. Regardless, I have set up a payment plan with the IRS so that is settled. My question is, if we were to apply for a mortgage right now, how will that $9,000 IRS bill affect us? Is that looked upon the same as credit card debt or a different kind of debt? I ask because I’m thinking of getting one of those 0% introductory APR credit cards and pay the IRS bill with that to avoid the interest/penalty.

  5. @cortana: yeah, I thought about printing that article out and referencing it, but it’d probably be pointless.

    I did learn some things though from reading it.

  6. satoru says:

    @alexander: Shuffling the IRS debt to your credit card is just a shell game. You’re simply moving your debt ratio from one container to another. In fact it could hurt your score temporarily as it will probably show up on BOTH the IRS and credit card debt portion, until they get into sync (the IRS is not very good at updating their processes!).

    The $9000 will affect your score depends on how much it skews your debt ratio, amongst other factors of course. If you want to help your credit score, agressively pay down that $2000 line of credit, or any other outstanding credit card debt you might have. That would go much farther in helping your situation.

    Also remember that you are allowed 1 free credit report per year depending on where you live. You should try to see what free options are available to you and get your credit report first. Then you will have a much better idea of what your mortgage company will see, and if you have any viable options for improving your score quickly.

  7. A.W.E.S.O.M.-O says:

    @alexander: It’s a different kind of debt. There is a distinction in your credit report between revolving debt and installment debt, and to an extent they have to be treated differently (i.e., you can have a $16,000 of debt in an installment auto loan and that’s common in people who are safe credit risks, but $16,000 of credit card debt is very, very bad if you’re not Tiger Woods).

  8. Lance Uppercut says:

    @cortana: I don’t think the debate is about the rule existing. It’s more an issue of does showing ID actually hurt you.

    I have always understood the rule, but I still always show ID if they ask. It doesn’t bother me in the slightest.

    If you don’t want to show it fine, that’s your choice.

  9. Alexander says:

    @satoru: & @A.W.E.S.O.M.-O: Thanks so much for the insight! I guess I’ll just leave things as they are. Both debts will be paid by the end of the year as those are the only two outstanding debts we have. We check our credit reports regularly and both of our FICO scores are in the mid 700s currently. Thanks again.